Healthcare Financial News

Applications are now being accepted for HFMA’s High Performance Award in Revenue Cycle. The award criteria identify hospitals that are distinctive, innovative and effective in revenue cycle process improvements and patient satisfaction. In addition, it recognizes sustainable financial performance that serves the mission of the organization.

The award is sponsored by 3M Health Information Systems.

The award criteria are based on HFMA's Revenue Cycle Key Performance Indicators, developed by HFMA’s KPI Task Force, and on research for the latest PATIENT FRIENDLY BILLING® report, Strategies for a High-Performance Revenue Cycle, published in 2009.

The High Performance Award in Revenue Cycle was first presented at ANI: The Healthcare Finance Conference in 2009. The Second Annual High Performance Award in Revenue Cycle will be presented at the 2010 ANI to up to 15 hospitals that meet or exceed the award criteria. Award recipients will be recognized at several special events at ANI, including a presentation of the awards at the Monday morning general session. HFMA will also recognize the winners in its online communications and print publications, and will provide winners with press materials they can use to announce the award to their communities. Finally, award winners will become part of a distinguished peer group of healthcare finance leaders who are helping to define best practices for a high performance revenue cycle.

All applications must be submitted by March 12, 2010. To learn more about the award and to apply, visit www.hfma.org/award.

Growth in U.S. national health expenditures (NHE) is expected to have increased faster than the growth in the gross domestic product (GDP) in 2009, according to a report issued today by the Centers for Medicare & Medicaid Services (CMS) and published online by Health Affairs. In 2009, NHE is projected to have reached $2.5 trillion and grown 5.7 percent, up from 4.4 percent in 2008 (the latest available historical year), while GDP, with the economy still in recession, is anticipated to have declined 1.1 percent. Health spending estimates for 2009 are projected because data for all of CY09 are not yet available.

The projected acceleration in growth for 2009 was due in part to faster spending growth for the Medicaid program (9.9 percent, up from 4.7 percent in 2008), reflecting increasing growth in enrollment associated with the recession. Also contributing to the acceleration was faster growth in the use of a variety of healthcare services as many people sought treatment for the H1N1 virus and an expected increase in the take-up rate for coverage provided through COBRA in response to the government's subsidies for COBRA premiums. As a result of NHE growth outpacing GDP growth in 2009, the health share of GDP is expected to have increased from 16.2 percent of GDP in 2008 to 17.3 percent in 2009, which would represent the largest one-year increase in history.

Spending growth in three of the major healthcare sectors is expected to have accelerated in 2009. Hospital spending growth is expected to have increased 5.9 percent in 2009, up from 4.5 percent in 2008, and reached $760.6 billion. Physician and clinical services spending growth is expected to have increased 6.3 percent in 2009, up from 5.0 percent in 2008, and reached $527.6 billion.